#RWA资产代币化 The Yi Li Hua team's recent pace of adding positions is worth paying attention to. Holding 590,000 ETH and managing a volume of $1.78 billion, this is not a retail-level gamble — it reflects institutional confidence in the Q1 market outlook.

Here's a summary of key signals: First, record-high contract holdings have become a dominant price factor, with some platforms' contract volume being several times that of spot trading, indicating limited leverage space and an increased probability of upward breakthroughs; second, the policy environment in 2026 is indeed favorable, with tokenization of RWA assets, expansion of stablecoins, and a rate cut cycle all being substantial positives, not just narratives; third, continuous dollar-cost averaging into the bull market rather than chasing the lowest point shows their understanding of market cycles — concentrating large funds at the bottom is unrealistic.

However, caution is needed as the risk of contract liquidations is also rising. At the current ETH price levels, retail leverage positions that chase the high and trigger stop-losses could lead to rapid pullbacks. It is recommended to monitor on-chain whale inflow and outflow data and open interest changes, as these two indicators can help detect shifts in direction earlier.